Britannia Industries to invest Rs 300 crore in UP plant
Confectionary major Britannia Industries is planning to invest about Rs 300 crore in its proposed greenfield plant in Uttar Pradesh.
The company, which clocks annual revenues in excess of Rs 9,000 crore, is already scouting for land in Central UP for its proposed factory.
The project is expected to generate direct and indirect employment opportunities for 1,500 people and enrich the local supply chain of sugar and flour, which are available in abundance in the state.
UP additional chief secretary (infrastructure and industrial development) Alok Kumar told Business Standard in Lucknow on Tuesday that Britannia had submitted a proposal to set up a greenfield unit in either Hardoi or Barabanki districts of the state.
The proposed plant, spanning roughly 30 acres, will manufacture a variety of confectionery products, including bread, biscuits etc.
The Britannia Industries has also sought applicable sops in the form of state goods and services tax (SGST) reimbursement, capital subsidy etc in relation to its planned investment. The project is likely to be cleared once the preliminary report by the industrial department is submitted and vetted by the government.
Britannia’s flagship products include Good Day, Tiger, NutriChoice and Marie Gold biscuits, while its portfolio comprises biscuits, bread, cakes, rusk, and dairy products including cheese, beverages, milk and yoghurt.
Britannia Bread is the largest brand in the organised bread market with an annual turnover of over 100,000 tonnes in volume and Rs 450 crore in value. The company operates 13 factories and four franchisees selling a million loaves daily in around 100 cities.
It also has a presence in more than 60 countries with an international footprint spanning the Middle East through local manufacturing in UAE and Oman, and North America, Europe, Africa and South-East Asia through exports.
The Adityanath government has been vigorously pushing its agenda to attract investment in different sectors, including industry, infrastructure, tourism etc. In this regard, several new and amended policies have been announced to make the state more business-friendly.